What is the Origin of ERISA Statutory Fines?

The fines originate directly from the text of the Employee Retirement Income Security Act (ERISA), a comprehensive federal law established to protect the interests of employee benefit plan participants and their beneficiaries. The statute itself specifies the financial penalties for various violations, such as failure to file Form 5500.

What is the Mechanism of ERISA Statutory Fines?

The enforcement mechanism is regulatory, where the Department of Labor identifies non-compliance through audits or failure to submit required documentation. Penalties are often calculated on a per-day, per-participant basis, which can quickly accumulate into substantial financial burdens for the sponsoring employer. These fines serve as a powerful deterrent, ensuring plan fiduciaries uphold their legal duty to manage health and welfare benefits transparently and responsibly.

ERISA Statutory Fines ∞ Area

ERISA Statutory Fines

Meaning

ERISA statutory fines are the specific, legally mandated financial penalties imposed by the Department of Labor or other regulatory bodies on employers or plan fiduciaries who fail to comply with the administrative, reporting, and disclosure requirements of the Employee Retirement Income Security Act of 1974. These fines are non-negotiable legal consequences for lapses in plan governance, particularly regarding the equitable administration of health benefits. They represent a significant legal risk for non-compliant benefit plans.

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What Are the Specific Penalties for a GINA Violation in a Wellness Program?

GINA penalties, enforced via Title VII and ERISA, impose significant financial damages and systemic injunctive relief to protect the clinical data firewall of your personal biology.

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HRTioOctober 5, 2025

ERISA Statutory Fines

Meaning

Origin

Mechanism

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